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MS-4
Management Programme
ASSIGNMENT
SECOND SEMESTER
(July to December)
2020
MS-4: ACCOUNTING AND FINANCE
FOR MANAGERS
School of Management Studies INDIRA GANDHI NATIONAL OPEN UNIVERSITY MAIDAN GARHI, NEW DELHI – 110 068
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| ASSIGNMENT | ||
| Course Code | : | MS-4 |
| Course Title | : | Accounting and Finance for Managers |
| Assignment No. | : | MS-4/TMA/Sem-II/2020 |
| Coverage | : | All Blocks |
Note: Attempt all the questions and submit this assignment to the Coordinator of your Study Centre on or before 31st October, 2020.
- Explain the meaning of Generally Accepted Accounting Principles? Discuss in brief about the Accounting Concepts that are being followed in your Organisation. Give your suggestions if any.
- Discuss the methods of depreciation and how these methods differ from each other.
- You are required to Compute all variances for a product X, the standard cost data per unit of output for which are as follows:
Direct material
20kg @ Rs.10per kg
Direct labour
12 hours at Rs. 5.50 per hour
Variable overheads
12 hours at Rs. 10 per hour
Fixed overheads
Rs.9,00,000 per month based on
a
normal
volume of 60,000 direct labour hours
Selling price
Rs. 600 per unit
The costs incurred and other relevant information for the month of June2020 are as under
Direct material used
1,00,000 kg at a cost of Rs. 10,50,000
Direct wages paid
Rs. 3,10,000 for 62,000 hours worked
Overheads
Rs.15,26,000 out of which a sum of Rs.9,40,000 is Fixed
Actual output
4,800 units sold for Rs. 28,32,000
Assume no stocks of work-in-progress or finished goods at the beginning or at the end of the month.
- Alpha Ltd is considering the purchase a new machine, the details of the machines from which it is to select one are as follows:
| Machine I | Machine II | ||
| Estimated Life | 3 years | 3 years | |
| Capital Cost | Rs. 90,000 | Rs. 90,000 | |
| Earnings (after tax) | Year 1 | 40,000 | 20,000 |
| Year 2 | 50,000 | 70,000 | |
| Year 3 | 40,000 | 50,000 |
The company follows the straightline method of depreciation, the estimated salvage value of both the types of machines is zero. You are to advise which is the most profitable investment based on (i) Pay back period (ii) Accounting Rate of Return and (iii) Net Present Value assuming a 10% cost of capital.
- Explain the Concepts of Working Capital. Why is management of working capital important for any business? Discuss the various factors that are taken into consideration while deciding the working capital requirements of the business.
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